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Ethiopia announces US$10 billion hydroelectric projects


APA-Addis Ababa (Ethiopia)

Ethiopia announced on Wednesday plans to construct 10 hydro electric projects in the coming ten years which will cost the country US$ 10 billion.

The Ethiopian Electric and Power Corporation (EEPCo) said that the projects are aimed at generating over 15,000 MW.

The money needed for these projects are expected to be covered by the government, donor community and Ethiopia’s development partners.

The Chief Executive Officer of EEPCo, Mihret Debebe, said that self sufficiency in all aspects of the power sector is the basis of sustainable development.

It should be recalled that over the week end, Ethiopia inaugurated a 300 MW hydroelectric project that was fully funded by the government, which claims it is the first of its kind in Africa.

In the coming months, the country will also to inaugurate three other hydroelectric projects in which the government invested billions of dollars in collaboration with its development partners.

The finalization of these projects are expected to help Ethiopia supply power to neighbouring countries as it already signed a power supply agreement with Kenya, Sudan and Dijibouti.

The agreement is expected to be implemented in 2010.